Post-graduation stress and anxiety is a real thing, and it is becoming a common mental issue amongst millennials and Gen-Zers. Feeling like you are not in control of your life after celebrating a huge success is a phase of intellectual confusion that can be hard for a person to handle.
Being a young adult nowadays involves a long and overwhelming process of finding your place in the world. Whether it’s searching for your first apartment or putting months or years into establishing your career and professional reputation, all of these steps can, unfortunately, result in deep debt. Knowing how much you’re spending and how you can save are two important factors in creating a budget. Define your method to post-grad financial success with these helpful tips!
Develop a grocery store game plan
Meal preparation: Knowing what meals you’re going to make ahead of time can be really helpful for your next trip to the grocery store. Writing down exactly what you’re going to purchase can make estimating the total cost less of a surprise. If you’re worried about spending more than you wanted to, give yourself a spending limit, but don’t be too strict with it. One month, you may need or want additional groceries for a recipe or house warming party.
Controlling the costs: If you find yourself allocating a lot of money on food, decrease your spending by eating at home as frequently as possible. Restaurant prepared meals are always overpriced, so finding some easy recipes you enjoy is always a plus!
Buy generic: Most likely, those Quaker Oats are made and processed in the same way as the generic oats brand. Many grocery store chains have generic food options, and to ensure you’re buying the same product, check the ingredients label. Usually the generic brand is two to three dollars cheaper so navigate the off-brands to cut your costs.
Determine your fitness plan
Download a fitness app: Gym memberships can be really expensive, especially if you’re only going to the gym once or twice a week. Instead, consider downloading a free fitness app on your smartphone for some high-quality workouts.
Workout out at home: At-home workouts can be just as productive as one with a trainer or a class at the gym. If you struggle with creating your own fitness plan and are easily motivated by a trainer, seek workouts on YouTube! Many online fitness videos involve a coach who is encouraging and motivating. This also gives you the opportunity to try out a variety of workouts without the financial commitment.
Cut down on monthly payments
Student loans: It is not a mystery that student loans have the power to break your bank account. For many graduates, these are one of the biggest expenses and missing a payment can result in late fees and a hit to your credit score. To save yourself some money, try exploring the option of refinancing your loan payments. If doable, the payment wouldn’t be as detrimental to your bank account and you would have a little extra money for other things.
Cell-phone plan: When signing up for your own phone plan, you might choose a data option that you realize is much higher than you need in the future. Every month, check and see how much data you are using to determine if you could cut back and pay less for your usage.
Rent: When searching for an apartment, talk to your friends and family to see if there is someone who you can room with. Sharing a place with someone who you trust can cut your rent costs in half!
For more inspiration, try these cheaper alternatives!
Instead of buying a cafe latte, try drinking chai tea.
Instead of cable tv, try a Netflix or Hulu monthly subscription to watch your favorite shows.
Instead of staying in a hotel, try an Airbnb rental.
Instead of driving to nearby destinations, consider public transportation to save some gas money.
Each time you are buying something, ask yourself if it is what you actually need. If it’s a required item, is it one that you can save on? Use a browser extension like Ebates or Honey to search online for discounts before you click buy!
[This post may contain affiliated links\